UPDATE: U.S FINALIZES $20,000 VISA BOND POLICY AFFECTING NIGERIA AND 49 OTHER NATIONS. (PHOTO).

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 U.S Finalizes $20,000 Visa Bond Policy Affecting Nigeria and 49 Other Nations The United States government has officially formalized its visa bond policy, making it a permanent measure that could require travelers from 50 designated countries, including Nigeria, to pay a refundable bond of up to $20,000 before receiving certain visas. First introduced as a pilot scheme in 2025, the policy targets applicants seeking B1 and B2 visas, which are designated for business and tourism. According to the U.S. Department of State, the initiative is designed to bolster compliance with local immigration laws and drastically reduce visa overstay rates. How the Visa Bond Policy Works Under the permanent guidelines, U.S. consular officers have the discretion to instruct eligible applicants to post a bond as a prerequisite for visa issuance. However, U.S. authorities have clarified that the financial requirement will not be applied automatically to every traveler from the listed nations. Data anal...
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NEC ESTABLISHES COMMITTEE TO ADDRESS N702.9BN COST OF LIVING ALLOWANCE FOR WORKERS.(PHOTO).

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NEC ESTABLISHES COMMITTEE TO ADDRESS N702.9BN COST OF LIVING ALLOWANCE FOR WORKERS


NEC Establishes Ad Hoc Committee to Address Nigerian Workers' Hardship After Fuel Subsidy Removal
In response to the challenges faced by Nigerian workers due to the removal of fuel subsidy, the National Economic Council (NEC) has taken action by setting up an ad hoc committee. The committee's primary objective is to find effective measures to alleviate the suffering experienced by workers across the country.

According to a statement from the Office of the Vice President, the council has granted the committee a two-week timeframe to explore two proposed scenarios put forth by the National Salaries Wages and Income Commission (NSWIC). The statement highlights that this decision was made during the inaugural NEC meeting chaired by Vice-President Kashim Shettima, following its establishment by President Bola Tinubu.

Mr. Ekpo Nta, the Chairman of NSWIC, has recommended two key measures to address the situation. Firstly, he suggests reviewing the national minimum wage to ensure it reflects the current economic realities. Additionally, he proposes the creation of a cost of living adjustment allowance, amounting to N702.9bn, to mitigate the adverse effects of the subsidy removal on workers.

During the meeting, the NEC also provided an update on the nation's financial accounts. It was reported that the Excess Crude Account stands at $473,754.56, the Stabilisation Account at N26.6bn, and the Natural Resources Fund at N96.9bn.

 

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